NTUC has just launched a new tranche of Capital Plus (CPN21) with immediate effect.
Capital Plus (CPN21) is a single premium short-term savings plan with guaranteed returns. This plan has tenure of 3 years, with a guaranteed maturity benefit. It also provides cover against death and total & permanent disability (TPD).
CPN21 offers a guaranteed return of 1.4% p.a. for a policy term of 3 years. There is an early surrender penalty of about 10% if the plan is surrender before maturity.
Capital Plus is available from ages 16 to 80 (last birthday), for amount starting from S$10,000, up to a maximum of S$1,000,000.
Upon death or TPD within the first policy year, the benefit payable will be the single premium. The death or TPD benefit payable after the first year up to maturity is 105% of single premium. For TPD, the benefit is payable if it occurs before age 65 (last birthday) or maturity, whichever is earlier.
Note that the tranche size is small and it is likely to be taken up in a very short time.
Capital Plus is available for cash and SRS only.